Momis backs BCL to develop Panguna

Business

PRESIDENT of the Autonomous Bougainville Government Dr John Momis is supporting the new Bougainville Copper Limited to develop the Panguna mine for the benefit of the landowners.
It is owned by the ABG, the PNG Government, Panguna landowners and people of Bougainville.
Momis said ABG as the regulator would support BCL explore alternative Panguna development options that would accommodate the interest of project stakeholders.
“Since BCL was invited to formally re-engage in discussions in Bougainville in 2012, the landowners have consistently stated their preference to work with BCL as the developer,” Momis said.
This was reaffirmed by the nine landowner associations in Buka on Feb 23 this year after the BCL team led by chairman Rob Burns made presentations on the new development proposal for Panguna.
Burns outlined how different the new Panguna approach would be under the new BCL.
Momis said: “Due to the majority of shares transferred by Rio Tinto to ABG and the Government, the ABG and landowners now view BCL as not the devil we know but the devil we won.”
“The ABG and the landowners will now have to take advantage of this scenario and work out a positive strategy for an outcome that will be equitably beneficial to stakeholders especially the landowners.”

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